A Wellington Bankruptcy Case.

Feilding Star, Volume XVI, Issue 84, 3 October 1894, Page 2

A Wellington Bankruptcy Case.

(PEB PRESS ASSOCIATION.) Wellington, Oototw 1. The bankrupt estate of Andrew Young shows liabilities £1235 with no assets Tbe debtor in bis statement says in 1878 be had acquired property to the value of quite £16,000. He paid property tax on £12,000. The action brought by a passenger in a coach accident cost him £1250. The same year the lawsuit broug> t against htm by the trustees of .Robert Port's estate cost him £450, and he lost £800 through depreciation of mortgages, whioh he held in the same estate. The Colhngs wood Gold mining Company cost him £700, He lost £850 m the West Wan* ganui Coal Mining Company, and L250 m the Wellington Opera House Comp. He paid L2OOO for a section on the re* claimed land at Thorndon, and had subi tequently to acoept LIOQO for it and he I lost LBOO in the estate of P. Hudson and Co The racehorses Poet and Minerva fell into his hands and racing them ona season, he lost L7OO. Next jeu- he set oared a coaching contract from Tauranga to Thames, but met with misfortune and sold out after losing LB6O. I o 1887 he became security to the National Bank for his son and partner for the purchase of passengar-carrymg plant for Wellington business. It was a success at first but the palace oars whioh his son had mven» ted, being preyented from running by Aot f f r ■ rnn eDt| &»le<f and be lo.t L3SOO over the venture, By this time he had mortgaged nearly eve»J»hSg {J PN V op Jhe guaranteed overdraft to. t£ National Bank amounting to L3690. He n 1 ?F* ? e w * il «w»tnwt between Cnnstohuroh and aokuika. Altogether he had borrowed L10.730.0n his ties He was adjudged a bankrupt on the i pettfwn of the National Bank, k Dehto* *w4ftOOfintetttk w tb#owditorf,